The most common crypto scams on Telegram

On Telegram, crypto scams are also legion!

- Hello sir, I'm a crypto marketer. ...
- Hello. I belong to the company.
- Hello, XX! I'm from ... you can check my bio.

And don't forget the polite forms, of course!

If you're on Telegram, you've probably already received private messages from the CEO of X company.

crypto scams telegram

"Incredible, isn't it? To be approached by the CEO of a big crypto company! "

Still others come along and offer to make you much more than you ever imagined.

"Finally wealth at the click of a button!"

There is no shortage of techniques and new, more innovative
crypto scams or scams are being created every day.

Let's take a step back and identify the ones that are most common on Telegram.


Telegram is one of the social networks with the largest number of users.

On average, there are just over 550 million users every month.

It is also supposed to be one of the most secure.

"Supposedly", because as everywhere, scams never miss an opportunity to diversify into cyber attacks.

On Telegram, as with other networks, there is no shortage of tricks, especially since crypto investors are in the majority.

Card numbers, wallet addresses or even PII (personal identification information)...etc. Everything is accessible for these geniuses of the net who keep on throwing several hooks.


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Part 1 - List of the most common crypto scams on Telegram

1. Phishing

On Telegram, phishing techniques are also present. This is called smishing (phishing by text message or SMS). The idea is to obtain PII or sensitive data. The concept? Place a hook and wait for the bait to bite. The consequences can be serious when the hacker targets company directors or executives (whaling or spear phishing). 

2. Off-platform crypto scams

So-called "off-platform" crypto scams are those that, as the name suggests, will guide you outside the initial chain. Here, you will be asked to follow a link and once you click on it, you may be tricked into providing your info or even installing a virus.

3. Copycats

Copycats are often fake Telegram channels or fake groups. If you are a member of one of the TG Galeon accounts, you may have noticed that the community expresses itself on various subjects: blockchain, healthcare, crypto, etc. Thus, members feel confident, in known territory. The problem is that the crypto scams will do everything to make us believe that they are also members of the group.They have the same name, the same image...etc.

- Always check that the channel is locked on "admin" mode. Thus, no message can be sent from your side.
- In the settings, only allow your contacts to add you in channels or groups. 

4. Crypto expert scams 

As TG is the crypto lovers platform, crypto scams are ready in order to spoof users' wallet. Thus, it is possible that a certain character presents himself with an inspiring profile picture, and promises you to increase your ROI. Often, he will disappear just after collecting your login data...etc.

5. Pump and dump 

In the same vein, pump and dump crypto scams are present in crypto channels, announcing events that will potentially affect the price and are worth investing in or reselling. Afterwards, you may be attracted by his advice and want to get more. But often you will have to contact him in PM. Never skip this step. Since when do we share our good tips when it comes to investing?

6. Bots on Telegram

On Telegram, it is possible to create bots. While this can be very useful for organising FAQs or managing the support group, some hackers do not hesitate to create fake bots. In 2020, more than 350,000 attacks were recorded. These bots operate with fairly sophisticated AIs, capable of initiating a discussion with you.

- Avoid any discussion with a bot that asks you to perform an action in a hurry,
- Always check the phone number, most of them have no connection with the number of other administrators,
- Even if mistakes are tolerable, see if the person you are talking to obviously doesn't have the basics in spelling or syntax,
- Never reply to a user who asks you for sensitive information.

7. Tech support scams crypto

The presence of supports on some Telegram channels is very important. These allow to answer users' questions.

- Whether they are bots or not, never give out your confidential information. And this, whether in public or in private. On the one hand, because the support procedure respects a certain protocol, and on the other hand, because you will never be asked for such information in private, on TG.
- Do not hesitate to check the login and the email address.
- Also look at previous posts by the supposed member on the group.

8. The wobbly giveaway

Competitions or giveaways always create a buzz. However, it is possible to come across fake accounts, some posing as other groups or companies, to steal your bank details. If you win a so-called giveaway, but they ask you for your bank details to get your money back, or even ask you to pay a tax, run away!

Phishing schéma

Part 2 - Tips on how not to get caught by crypto scams on Telegram

There are several rules to avoid falling into the scam trap. But the number one rule is the following: even if it is the central bank that asks you, never give out your codes, whether by telephone, email or message (and even to your relatives, you never know).

Keep in mind that no entity, nor any financial institution will ever ask you for confidential data in this way. Even if they explain to you that the survival of the human race depends on it.

Similarly, don't share any documents and don't forget to store your information in a safe place (not necessarily a safe).

One last piece of advice: in real life, it is rare that someone will come up to you and offer you the deal that will make you the most money. If this is the case, you have either come across a very nice person who probably lives in Listenbourg, or you are dealing with the worst con artist of the decade.

There is very little chance that the CEO of a huge crypto project will come up to you and shake your hand in person, saying: "I like you, I want you to benefit".

What you should remember above all is that on the internet and on Telegram in particular, you have no reason to give out your personal information, even more so under pressure. The only people you should trust are yourself, and above all, the certified members or admins.

Hence the importance of looking at all the contact data carefully. If you have any doubts, do not proceed with what you are doing, and ask for advice from friends, relatives or other certified members.

The purpose of this article is above all to simplify technical concepts related to crypto-currency, in order to make them accessible to all. These words therefore only commit their author. It is not intended to advise the reader on his investments.

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